Trump lifts tariffs on Canadian aluminum
Despite the measure, the president of the United States warned that he could restore them if purchases of the metal from the country increase
This Tuesday, October 27, the president of the United States, Donald Trump, announced the decision to formally eliminate the tariff impositions on imports of raw aluminum from Canada.
Although the measure is favorable for the Canadian economy, the US president warned that taxes on the metal could be reestablished in the event that purchases of the item from the North American country increase.
Trump indicated that they have decided to abolish tariffs on Canadian aluminum to ease bilateral trade relations and provide a favorable scenario for the recovery of both nations amid the negative effects of the pandemic.
The elimination of the tariff comes a month after the announced agreement reached by the office of the United States Trade Representative that would allow an exclusion for Canadian aluminum imports from the 10% tariffs, retroactive to September 1.
Following the announcement, the United States is confident that Canadian crude aluminum exports will reach between 70,000 and 83,000 tons per month through December, which would represent 50% of the monthly rate from January to July.
M.Pino
With information from Agencies
